Von Miller and the Denver Broncos are the favorites to win the Super Bowl, according to VegasInsider.com / Ron Chenoy-USA TODAY Sports

by Chris Strauss, USA TODAY Sports

by Chris Strauss, USA TODAY Sports

Possessing an 11-game winning streak and the best record in football has bookmakers in Vegas bullish on the Denver Broncos' chances to win the Super Bowl heading into the NFL Playoffs.

According to VegasInsider.com, Denver is getting 2/1 odds to hoist the Lombardi Trophy in New Orleans at Super Bowl XLVII on Feb. 3. The New England Patriots are next at 5/2 odds with the Indianapolis Colts the biggest long shot at 80/1.

The statisticians at Football Outsiders have figured out their own formula to forecast which team will emerge victorious in February. They've played out the season 50,000 times using a statistic that "breaks down the entire season play-by-play, comparing success on each play to the league average based on a number of variables including down, distance, location on field, current score gap, quarter, and opponent quality."

Football Outsiders also sees the Broncos as the favorites, giving them a 26.2 percent chance of winning the Super Bowl. The Colts are also the long shot in their eyes with a 0.2 percent chance of winning it all.